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White House to Release GM An Additional $4-Billion To Stay Afloat (UAW Uber Alles!)
ABC ^ | February 16, 2009 | George Stephanopoulos

Posted on 02/16/2009 6:55:55 PM PST by GOPGuide

Obama administration sources tell me that tomorrow they will release $4-billion to General Motors Corp.

The White House move comes one day before car giants General Motors Corp. and Chrysler LLC are scheduled to submit cost-cutting plans to the administration in exchange for some $17.4-billion dollars the government lent them in December.

The Obama administration was to have six weeks to rule on the future of the U.S. auto industry, with a March 31 deadline for deciding whether GM can keep the $13.4 billion and Chrysler the $4 billion given to them.

But White House officials tell me that no one wants GM to go under while they assess this long-term restructuring plan.

They believe this $4-billion is essential to keeping GM afloat until their decision in March.


TOPICS: Front Page News; News/Current Events; US: Michigan
KEYWORDS: 111th; automakers; bailouts; gm; uaq; uaw

1 posted on 02/16/2009 6:55:55 PM PST by GOPGuide
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To: GOPGuide

GM and Chrysler may have to give it back? Hah! Its long gone. But, of course, everyone knows that—its just a big game of pretend.


2 posted on 02/16/2009 6:57:46 PM PST by rbg81 (DRAIN THE SWAMP!!)
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To: GOPGuide

More Union payoffs.


3 posted on 02/16/2009 6:57:57 PM PST by Logical me (Oh, well!!!)
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To: rbg81

You are a RACIST for questioning the Messiah!


4 posted on 02/16/2009 6:58:16 PM PST by GOPGuide
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To: GOPGuide

Good gawd.


5 posted on 02/16/2009 6:58:20 PM PST by Dallas59 ("You know the one with the big ears? He might be yours, but he ain't my president.")
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To: GOPGuide

We’ll never see that money again, down the black hole it goes.


6 posted on 02/16/2009 6:59:53 PM PST by dfwgator (1996 2006 2008 - Good Things Come in Threes)
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To: GOPGuide
The Obama administration was to have six weeks to rule on the future of the U.S. auto industry,

That there is one horrific sentence - so easily accepted and so destructive in its implications.

7 posted on 02/16/2009 7:02:06 PM PST by keepitreal (Obama brings change: an international crisis (terrorism) within 6 months)
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To: GOPGuide
was to have six weeks to rule on the future of the U.S. auto industry,

Michelle was right, he is gonna "rule".

8 posted on 02/16/2009 7:04:39 PM PST by budwiesest (We're getting low on bread, can we get some more circus?)
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To: GOPGuide
Obama administration sources tell me that tomorrow they will release $4-billion to General Motors Corp.

Let's see - Georgie promises Rahm favorable coverage on ABC and in return, Rahm gives Georgie these tid bits from time to time to enhance his cred with his fellow travellers.

How cute.

9 posted on 02/16/2009 7:04:50 PM PST by capydick ("History does not long entrust the care of freedom to the weak or the timid".)
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To: dfwgator
black hole
10 posted on 02/16/2009 7:05:27 PM PST by al baby (Hi mom. I love sarcaism)
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To: GOPGuide
***The White House move comes one day before car giants General Motors Corp. and Chrysler LLC are scheduled to submit cost-cutting plans to the administration***

This is BS. The automakers were to submit their plan BEFORE they got the money but it looks like Obama is arbitrarily changing the terms.

11 posted on 02/16/2009 7:05:44 PM PST by tobyhill (Obama gets no free pass from Free Republic!)
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To: dfwgator

GM market Cap is only 1.5 Billions and this is after the first infusion of Billions. Now we are going to dump additional 4 Billion into the rat hole. It would be cheaper to close it down and send a payroll check to workers for years.


12 posted on 02/16/2009 7:06:43 PM PST by Orange1998
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To: al baby

Yep, I’m expecting the “That’s Racist” boy pic to show up anytime now.


13 posted on 02/16/2009 7:07:35 PM PST by dfwgator (1996 2006 2008 - Good Things Come in Threes)
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To: GOPGuide

The UAW is about to replace Jonestown as the deadliest mass suicide cult in modern history.


14 posted on 02/16/2009 7:08:20 PM PST by Loyalist (Barry Barack Hussein Obama Soetoro Dunham Pumski! A man of many talents! A man of many names!)
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To: GOPGuide
Well, making this announcement now will certainly make it easier for management to take a hard line with the unions.

</sarc>

15 posted on 02/16/2009 7:08:25 PM PST by jwparkerjr (God Bless America!)
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To: jwparkerjr

The UAW and the failure of the auto manufacturers might just be BO’s ultimate achilles heel.


16 posted on 02/16/2009 7:14:19 PM PST by cornfedcowboy
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To: GOPGuide
The Obama administration was to have six weeks to rule on the future of the U.S. auto industry

How long did it normally take the Politburo to rule on Trabant?

17 posted on 02/16/2009 7:15:58 PM PST by .cnI redruM (Change is not always good, and Hope is not a plan.)
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To: keepitreal

Very scary indeed.


18 posted on 02/16/2009 7:16:29 PM PST by jveritas (God Bless our brave troops)
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To: GOPGuide
The Then 'One', with his revolutionary green car of his day. Not to mention the private public partnership for a greater ......


19 posted on 02/16/2009 7:18:23 PM PST by Leisler
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To: GOPGuide
They believe this $4-billion is essential to keeping GM afloat until their decision in March.

GM Suit: That better damn well be March first.

20 posted on 02/16/2009 7:20:14 PM PST by Petronski (For the next few years, Gethsemane will not be marginal. We will know that garden. -- Cdl. Stafford)
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To: GOPGuide
Really, really tough stand by obama. Held out to last moment to get Gm to change its plan.
No,,,,, just voted present like he always does.
Afraid GM might go bankrupt.
Next time they will draw a firmer line in the sand.

If he had an Auto Czar, the Czar would only be answerable to obama. With no Czar no private meeting with obama. They get blamed for their decision. Consensus that O just accepts (votes present again)The leadership we expect , the leadership they deserve.

21 posted on 02/16/2009 7:21:10 PM PST by TAP ONLINE (All Democrats are Scorpions, you get the ride you deserve Ms Collins, Ms Snowe, Mr Specter)
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To: budwiesest

I am confused. Where in the Constitution does it allow the executive branch the power to allocate taxpayer dollars to specific companies????


22 posted on 02/16/2009 7:23:41 PM PST by Carling ("We've lost two people in my family because you dickheads won't cut trees down," - Warwick Spooner)
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To: AdmSmith; Berosus; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; justiceseeker93; ..

Democrat Rep. Henry Waxman: ‘Oversight of the Internet is One of His Top Priorities’
Monday, February 16, 2009 | Kristinn
Posted on 02/16/2009 6:59:38 PM PST by kristinn
http://www.freerepublic.com/focus/f-news/2187188/posts


23 posted on 02/16/2009 7:25:30 PM PST by SunkenCiv (https://secure.freerepublic.com/donate/____________________ Profile updated Monday, January 12, 2009)
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To: al baby

24 posted on 02/16/2009 7:39:19 PM PST by Petronski (For the next few years, Gethsemane will not be marginal. We will know that garden. -- Cdl. Stafford)
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To: cornfedcowboy

BO and the unions, all liberals for that matter, are like the family who has maxed out their credit cards, home equity, etc. and are barely able to keep going from month to month. They are using their credit cards to pay other credit cards. Then, wonder of wonders, they get another credit card with a big limit. And the go right along, charging stuff, just like always. Guess where they will be in a short while.

I can’t believe they announced they would be willing to give GM another $4 billion to keep them going. Right on the eve of having to get major concessions from the unions.

Never learn do they?


25 posted on 02/16/2009 7:41:13 PM PST by jwparkerjr (God Bless America!)
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To: jwparkerjr

As I posted on another thread, it is far past time to put GM out of business. We NEED to NOT buy from them, at all. They need to have the union broken, and liberal politicians will NOT do it. We have to. Boycott GM, lets stop the bleeding of our tax dollars. Enough.


26 posted on 02/16/2009 7:46:20 PM PST by wombtotomb (since its "above his paygrade", why can't we err on the side of caution about when life begins?)
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To: rbg81

The food I ate as a child, and the house I lived in were payed for in large measure with money my father earned at GM. Having said that, at this point I think it would have been much better to have let them fail on the basis of their poor decisions than to have the liberty of my nation challenged by things such as a committee appointed to oversee auto manufacturing in the US. If GM, Ford, and Chrysler all failed, the country would be just fine, and another group of transportation companies would take their place and likely do a better job. On the other hand, the damage done by letting the government make decisions about how private companies are run is profound.


27 posted on 02/16/2009 7:51:24 PM PST by pieceofthepuzzle
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To: GOPGuide

How in the name of all that is holy, is the White House able to release funds to anyone? Congress controls the purse strings. WHAT THE HELL ARE THESE MONSTERS DOING TO MY COUNTRY?!?!


28 posted on 02/16/2009 7:58:48 PM PST by Fudd Fan (To annoy conservatives, lie to them. To annoy liberals, tell them the truth.)
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To: Fudd Fan

They intend to destroy the country!

And reduce us to Dhemi-tude!

They may succeed at the first.

But I WILL NEVER be subject to Islam as a Dhemi.

NEVER, Take that to the bank!


29 posted on 02/16/2009 8:05:06 PM PST by Texas Fossil
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To: Texas Fossil

I’m with you. They’ll have to kill me first.


30 posted on 02/16/2009 8:24:54 PM PST by Fudd Fan (To annoy conservatives, lie to them. To annoy liberals, tell them the truth.)
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To: Carling
does it allow the executive branch the power to allocate taxpayer dollars to specific companies????

I looked but could only find the Article 2, section 8 where they are given the power to provide and maintain a Navy. See, if companies like GM and Ford fall flat on their face, we may not be able to "provide and maintain a Navy".(Only picked the Navy as there's lots of steel involved: could apply to any of our services)

The other sh*t our government wastes money on could come under the column of 'general welfare'. What's more important? Being able to fund Welfare, or the tools necessary to succeed in Warfare?

What good is it to feed someone if the cost of doing so means you can't defend them? Defense has so many practical applications, that's why I love the 2nd ammendment. Works for me, works for others, works for all. Perhaps this is why the Left hates it. It works.

With the right incentives, GM and others could put country ahead of unions, if need be. Government couldn't build a tank, and if they could, I wouldn't want to ride in it.

Let's not replace the "Hearbeat of America" with, "The Heartache of America".

31 posted on 02/16/2009 9:57:13 PM PST by budwiesest (Let's not replace the Heartbeat of America with the Heartache of America.)
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To: budwiesest

The question, of course, is which group of people these tanks will be used against as the Obama administration continues its assault on the Constitution.


32 posted on 02/16/2009 10:02:48 PM PST by Carling ("We've lost two people in my family because you dickheads won't cut trees down," - Warwick Spooner)
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To: Carling
Assualts on the constitution happen daily. An assualt on the American people would only happen once and end badly for anyone attempting it. We The People possess defense as does no other country. It is a respect given individuals no other country emulates. They're afraid too. It's ours. We Won!

Let any asshole try to take them away, including our 'present' president.

33 posted on 02/16/2009 10:16:47 PM PST by budwiesest (Let's not replace the Heartbeat of America with the Heartache of America.)
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To: rbg81

Pretend.

EXACTLY!!

Some company on Monday can say “We have X dollars in the bank”

Then they get a bailout so on Tuesday they get to say “We have X + a Billion dollars in the bank”

FANTASY!! Nothing has changed at all! Why can’t you or I do that? It’s fraud! All it is is computer entries!

Is that all money is these days is just digits in a computer?

Let’s hope not. Because simple entries on a computer screen have no “value”. Has our money become officially valueless?


34 posted on 02/16/2009 10:22:19 PM PST by djf
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To: budwiesest
Let's not replace the "Hearbeat of America" with, "The Heartache of America".

Nicely said. Too bad that it's already happening.

35 posted on 02/17/2009 3:07:34 AM PST by MaggieCarta (We're all Detroiters now.)
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To: MaggieCarta

More like the “Heartburn Of America” now.


36 posted on 02/17/2009 4:17:06 AM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: djf

Is that all money is these days is just digits in a computer?


Not really—the computer is just a means of transferring and viewing the accounts. Real $$ gets transferred—which eventualy comes from you and me.


37 posted on 02/17/2009 4:44:15 AM PST by rbg81 (DRAIN THE SWAMP!!)
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To: Fudd Fan
How in the name of all that is holy, is the White House able to release funds to anyone? Congress controls the purse strings.

I think that it's from the TARP, which congress (including many Rs) foolishly passed with no meaningful restrictions on how it could be used.

While I think it was wrong for Bush to push the TARP, it's also hypocritical for Obama to bash Bush for the deficit increase he voted for when he was a senator, not to mention he is going to joyfully spend its money.

38 posted on 02/17/2009 5:35:02 AM PST by ding_dong_daddy_from_dumas (I want to "Buy American" but the only things for sale made in the USA are politicians)
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To: Spktyr
More like the “Heartburn Of America” now.

Yes. Very sad.

39 posted on 02/17/2009 3:10:14 PM PST by MaggieCarta (We're all Detroiters now.)
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To: GOPGuide

Chrysler cut backs...

Removed 40,000 of the 80,000 lightbulbs at its headquarters complex to save $400,000 a year.

Cut spending on Christmas decorations by at least $11,000, to $1,000 in 2008.

Turned down the temperature in hallways from 72 degrees to 68, to save $70,000 a year.

Put 32 pieces of art, appraised in 2007 at $2.3 million, up for sale.


40 posted on 02/17/2009 3:14:19 PM PST by kcvl
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To: MaggieCarta

Some of us realized this long ago and stopped buying their products and had therefore avoided heartburn that way.... but now, they’re giving it to us again and we aren’t even going to get a semi-usable car out of the deal!


41 posted on 02/17/2009 6:40:19 PM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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